The Azerbaijan–Hungary Business Forum was held in Budapest within the framework of the 11th meeting of the Joint Intergovernmental Commission on Economic Cooperation. The event brought together representatives of both governments, as well as the public and private sectors.

Azerbaijan’s Minister of Finance, Sahil Babayev, and Hungary’s Minister of Foreign Affairs and Trade, Péter Szijjártó, addressed the forum, highlighting that government agreements create the framework while business communities and investors turn them into concrete projects. Babayev emphasized Azerbaijan’s stability, openness, and reliability, inviting Hungarian companies to invest in Azerbaijan while noting Azerbaijani companies’ interest in opportunities in Hungary and the EU.

Focus of Discussions

Discussions centered on expanding bilateral trade, promoting investments, supporting SMEs, and cooperation in key areas such as:

The Export and Investment Promotion Agency of Azerbaijan (AZPROMO) presented investment opportunities in Azerbaijan and Karabakh, while the Azerbaijan Tourism Bureau showcased the country’s rich cultural heritage and diverse tourism routes.

Hieronica Limited & HEPA MoU

During the forum, a Memorandum of Understanding (MoU) was signed between Hieronica Limited, a resident company in Shusha, and Hungary’s Export Promotion Agency (HEPA), operating under the Ministry of Foreign Affairs and Trade of Hungary.

This agreement marks a significant step toward strengthening bilateral cooperation and fostering mutual investments between Azerbaijan and Hungary. It underscores our commitment to promoting economic growth, supporting businesses, and building sustainable partnerships in the region and across Europe.

B2B Engagement

The event also featured B2B meetings with participation from more than 90 companies, including 30 from Azerbaijan. These direct interactions created valuable networking opportunities for enterprises to establish contacts, explore synergies, and plan future collaborations.